|M-1 Research Group Announces Investment Opinion on Accesspoint Corp.|
Coverage Initiated On Accesspoint Corp. With a Strong Buy
IRVINE, Calif.--(BUSINESS WIRE)--Feb. 19, 2001-- Today the M-1 Research Group initiated coverage on Accesspoint Corp. (OTCBB:ASAP - news) with a ``strong buy'' recommendation.
The M-1 Research Report determined that Accesspoint is well poised for material expansion in both the fast growing Application Service Provider and Transaction Processing markets.
The report concluded that, ``Accesspoint Corporation is a premier Application Service Provider (ASP) that simplifies the entire e-merchant process for both retail merchants and the re-sellers handling Accesspoint's products.
``The company services the payment processing needs of merchants by (1) providing merchant underwriting and account services, and (2) supporting the network services necessary for both retail (in-store) and Internet point of sale transactions.
``To this core function Accesspoint provides merchants with an entire suite of integrated business applications that centralize the management of (A) both in-store and online transaction processing and accounting, (B) automated Web site design and catalog management, (C) merchandising and benefits management, (D) order fulfillment and tracking services, and (E) a whole host of reporting tools, plus many other unique features and applications.
``Moreover, Accesspoint's unique technology provides re-sellers (the independent sales organizations, regional and merchant banks and credit organizations that market Accesspoint products) with real-time access to powerful marketing and management tools, giving them direct access to account underwriting and activation tools so they are free to grow their business without the burden of traditionally slow paper based systems.
``Moreover, to better service this sales channel, Accesspoint has been nurturing Processing Source International (PSI), an independently operated subsidiary which services the credit card and check processing sector as an underwriter and processor.''
PSI has been growing well ahead of projections as a validation of Accesspoint's entry into this market segment.
The full text of the Research Report can be found at the Web site of Accesspoint's public relation's firm, Alliance Consulting Group, at www.allconsultgroup.com/links/currentp.htm.
Accesspoint has been serving thousands of merchants nationwide since 1995 and has combined its mature Application Services technology platform with its unique relationships with Equifax Corp., Chase Merchant Services LLC and First National Bank of Omaha to provide bundled payment acceptance and business management services.
These programs provide customers with multiple payment acceptance capabilities including credit card and check transaction, a fully operational e-commerce and business management Web site, and a central Web-based management system for servicing both the brick-and-mortar and Web-based sides to each business.
M-1 Research is affiliated with the Alliance Consulting Group (``ACG''). ACG has been retained by Accesspoint to provide investor relations services and investment banking consulting advice to the company. M-1 has independently analyzed the transaction processing market and the prospects of the company, however, much of the information in this report was supplied by Accesspoint and M-1 does not guarantee the information for accuracy or to be all inclusive.
This material is for informational purposes only and is not deemed to be an offer or solicitation to buy or sell the securities of Accesspoint. ACG, its affiliates, and/or its officers, director s or employees may from time to time have a position in these securities. In connection with the retention by the company, ACG has received 60,000 restricted shares of the company and an option to purchase an additional 30,000 shares of restricted stock at $1.00 per share.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words ``believes,'' ``expects,'' ``anticipates'' or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Accesspoint Corp. to differ materially from those expressed or implied by such forward-looking statements. (Such factors include, among others, the risk factors contained in the company's Annual Reports and other filings with the Securities and Exchange Commission.) In addition, description of anyone's past success, either financial or strategic, is no guarantee of future success. Accesspoint Corp. will remain dependent upon future financing for its growth and development, and for it to successfully implement its business plan. No statement contained herein should be construed as indicating that such financing is or will be available, and if available, will be on terms favorable to Accesspoint Corp. This news release speaks as of the date first set forth above and Accesspoint Corp. assumes no responsibility to update the information included herein for events occurring after the date hereof.